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Nov 11, 2013
11/13
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exemption or tax break. you got to justify it again before we reappropriate it. >> and win it back. >> i think if you do that, you get real tax reform that could amount to lowering rates, at the same time produce some additional revenue. do you think there is any chance camp baucus goes anywhere? >> i'm sorry, go ahead, senator. >> go ahead. >> i have been telling my cloints for several months now, i think if you will see comprehensive tax reform at all, it won't happen until 20 thrown at the earliest. remember the tax reform act took three years to pass. that was revenue neutral. what is this one going to be? >> i think you got the players in place to do it now. chairman baucus has real incentive to it. he's not rung for re-election. he's got a bill. it's going to be marked up probably early next year. so you will have a bill coming out of the house that's a major tax reform bill by mid-february. it's going to put a lot of pressure on the senate. you got a chairman of the senate finance committee that wants
exemption or tax break. you got to justify it again before we reappropriate it. >> and win it back. >> i think if you do that, you get real tax reform that could amount to lowering rates, at the same time produce some additional revenue. do you think there is any chance camp baucus goes anywhere? >> i'm sorry, go ahead, senator. >> go ahead. >> i have been telling my cloints for several months now, i think if you will see comprehensive tax reform at all, it won't...
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Dec 4, 2013
12/13
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rate might end up with more revenues that raising taxes? >> for the country as a whole, right. we can learn as a country they'll go to other countries if they don't -- >> we should talk about tax. >> all right. gord gordon, thank you. say hi to johnny. >>> when we come back, we have the numbers out at 8:15 eastern time from the jobs data. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. you can fill that box and pay one flat rate. i didn't know the coal thing was real. it's very real... david rivera. rivera, david. [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. [ male announcer ] this december, experience the gift of unsurpassed
rate might end up with more revenues that raising taxes? >> for the country as a whole, right. we can learn as a country they'll go to other countries if they don't -- >> we should talk about tax. >> all right. gord gordon, thank you. say hi to johnny. >>> when we come back, we have the numbers out at 8:15 eastern time from the jobs data. every day we're working to be an even better company - and to keep our commitments. and we've made a big commitment to america. bp...
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Nov 18, 2013
11/13
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. >> your tax on these. you should write this off. >> it's a tax on the stupid. >> i know. gambling is. >> i take issue with a lot of gambling. i'm not going to get into it. >> you can get totally addicted to that. >> organized crime, and the cash off. >> are you okay with one child per person? i mean, that's a weird thing, isn't it? >> no, i'm not okay with that. >> you do draw the line somewhere? >> yes. but then i get into a whole person personal responsibility thing. >> you would say communist has -- >> i think that's a bad thing. >> it balances out some of the good things. >> i don't want somebody to have five children and then all have to be, you know, on the dole and they're not working and then there's some other issues. very complicated about how you think about it. >> we've resolved knock this morni -- nothing this morning. the stories likely to drive the trading week. check out the pictures. europe's most active volcano has erupted again. mount aetna lighting up the sky. shooting up a towering column of ash. the eruption began late saturday and it tapered off on
. >> your tax on these. you should write this off. >> it's a tax on the stupid. >> i know. gambling is. >> i take issue with a lot of gambling. i'm not going to get into it. >> you can get totally addicted to that. >> organized crime, and the cash off. >> are you okay with one child per person? i mean, that's a weird thing, isn't it? >> no, i'm not okay with that. >> you do draw the line somewhere? >> yes. but then i get into a whole...
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Aug 27, 2013
08/13
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reform, business tax reform. there is an opportunity now. that's what the president was speaking to a couple weeks ago. >> our time is short. a couple things before i led you go. how concerned are you about the reaction of financial markets to two different events? one, the possibility of military action in syria and, secondly, the tapering of bond buying that the fed has signaled is likely to happen this fall? >> you know, i focus on the core economy here. i think we have to take every step we can as we make policy to try and keep our eye on the baum of what does the economy need to keep growing in the future. we have foreign policy decisions that are going to need to be made for reasons other than core economics and obviously we'll have to manage accordingly. in terms of fed tapering, you know, as treasury secretary, i will focus on core economics. we've seen -- >> how strong is the core economy? >> i think our core economy has been growing in the 2% range and i think it's important to note that that's with sub
reform, business tax reform. there is an opportunity now. that's what the president was speaking to a couple weeks ago. >> our time is short. a couple things before i led you go. how concerned are you about the reaction of financial markets to two different events? one, the possibility of military action in syria and, secondly, the tapering of bond buying that the fed has signaled is likely to happen this fall? >> you know, i focus on the core economy here. i think we have to take...
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Dec 9, 2013
12/13
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sales tax, property tax? >> sales tax and property tax. what happens is -- >> there's no income tax. >> yeah, no income tax. we're in a position working hard to compete. no income tax, right to work state. low-business tax and more businesses don't pay it every year. companies like hertz are moving down there because they can solve their customer needs because they don't pay taxes. if they're in new york or connecticut, they'd have to pay. >> okay. so how will you replace the $2 billion? >> sales taxes. >> will they have to go up? >> no, i'm cutting taxes -- i've cut taxes every year. i've been governor three years, cut taxes basically 24 times. it's property taxes, business taxes, sales tax. we have all budget surplus, i walked in with a budget deficit, i now have a $1.2 billion surplus. we're making our economy the opportunity economy where, you know, if you want to build a business, you can -- and you want to get a job, you come to florida. >> your unemployment rate has dropped quicker than any other state, i know that. and you're now -
sales tax, property tax? >> sales tax and property tax. what happens is -- >> there's no income tax. >> yeah, no income tax. we're in a position working hard to compete. no income tax, right to work state. low-business tax and more businesses don't pay it every year. companies like hertz are moving down there because they can solve their customer needs because they don't pay taxes. if they're in new york or connecticut, they'd have to pay. >> okay. so how will you...
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Jul 24, 2013
07/13
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the president has said for a long time we need to revamp our tax structure. we need on create incentives for businesses to locate here. we is one of the highest tax rates in the world but yet many businesses don't pay that rate because they take advantage of loopholes. so we need to bring down the rate particularly for manufacturing. so you will hear similar things here about what will it take to keep the united states competitive. what will it take to make sure we have the best workforce in the world. and what it will take is a variety of things. yes, today the president is going to use the bully pulpit. but we also put forth legislation and we will continue to do that. the president has said he'll do whatever he can through the executive branch to make sure that we are lean and mean and investing smartly. so we're also going to call in the private sector to partner with them. there are businesses that are make sure that their employees have great benefits and making sure that they're well fapaid. we want people to work hard, get a good he had karks geteduca
the president has said for a long time we need to revamp our tax structure. we need on create incentives for businesses to locate here. we is one of the highest tax rates in the world but yet many businesses don't pay that rate because they take advantage of loopholes. so we need to bring down the rate particularly for manufacturing. so you will hear similar things here about what will it take to keep the united states competitive. what will it take to make sure we have the best workforce in...
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Mar 6, 2013
03/13
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high tax states versus low tax states. maybe he didn't say it in the right way, i don't think he said anything wrong, phil mickelson, you're a big golfer. he said for every 18 holes i play i don't want to give 11 to the government and keep 7% to myself. 62% tax rate, all in. we have to come down and come to some understanding what are appropriate tax policies. >> plenty of people in the past argue gridlock is good. i know what you're saying. if we have a functioning government we have two approaches to how we -- what we want the government to do. one approach with a functioning government takes us right down the entitlement pathway. if we are all on the same page, if the house turns in two years and we're all on the same page for that, is that better than disfunctional? >> no. the reason we're getting away with the disfunctional government, there's no pain associated with their policies. >> because of the fed. >> basically, i said this before, one of the most distinguished goldman sachs partners was henry fowler who left t
high tax states versus low tax states. maybe he didn't say it in the right way, i don't think he said anything wrong, phil mickelson, you're a big golfer. he said for every 18 holes i play i don't want to give 11 to the government and keep 7% to myself. 62% tax rate, all in. we have to come down and come to some understanding what are appropriate tax policies. >> plenty of people in the past argue gridlock is good. i know what you're saying. if we have a functioning government we have two...
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May 29, 2013
05/13
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>> in income tax. yeah, but in a good year on the corporate income tax about $300 billion. >> yeah. >> the point is, it's not a great revenue raiser for the federal government, but it's a massive distorter of economic growth. it distorts decisions in the marketplace which puts american companies at a competitive disadvantage. and so this tax policy does a lot of damage to jobs. by the way, i think we'll get more revenue. there was a great study that shows if we lower the corporate tax rate to 25%, we will probably get more revenue because we'll have more economic growth. >> they don't need to go outside. they can build all their facilities in japan and pay -- whatever it is and pay 13. >> i'm trying to recruit a fortune 100 company to wisconsin. this is a successful company with a lot of cash on their balance sheet. >> who? >> i'm not going to tell you which one. they say you know what, i'm building factory overseas, i'm going to ireland. lower the tax rate. >> are they in illinois? >> i'm not going to
>> in income tax. yeah, but in a good year on the corporate income tax about $300 billion. >> yeah. >> the point is, it's not a great revenue raiser for the federal government, but it's a massive distorter of economic growth. it distorts decisions in the marketplace which puts american companies at a competitive disadvantage. and so this tax policy does a lot of damage to jobs. by the way, i think we'll get more revenue. there was a great study that shows if we lower the...
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Jul 22, 2013
07/13
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the tax giant opened in 1990. at that time it was promoted as the tallest roller coaster in the world with more than a seven hotf degree drop. it opened in 1961. in 1999, one person died. ten were injured when a raft overturned. despite the accident the park is opened t. ride is closed as this investigation proceeds. a six flags spokes woman said we are committed to determining the cause of this tragic accident. we will utilize every resource throughout the process. meantime, many have looked to six flax as the ultimate turn around story. talk about the stock here. the company making a notable rebound from its share price in 2010. before the summer season kicked off, analysts said it had time to run. analysts are saying stories like this one have a chilling effect which could put a dent in six flag's profit. they are reporting second quarter earnings. they have a conference call and analysts will be looking for commentary on this tragedy about further safety precautions that they may have to take. how it may impac
the tax giant opened in 1990. at that time it was promoted as the tallest roller coaster in the world with more than a seven hotf degree drop. it opened in 1961. in 1999, one person died. ten were injured when a raft overturned. despite the accident the park is opened t. ride is closed as this investigation proceeds. a six flags spokes woman said we are committed to determining the cause of this tragic accident. we will utilize every resource throughout the process. meantime, many have looked...
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Nov 15, 2013
11/13
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we're pushing corporate tax reform. all of those competitors have a ten-point lower tax rate than we have. but for us in our business, becky, if we can get there with a better product and execute while in market, we're going to win market share. we're also driving the category growth. so in a market where consumer is using one diaper a day, if we can get to two diapers a day, that doubles the size of the business for us. >> you're talking about china? >> china or a place like africa, one that is really opening up and starting quickly. we're going very well in brazil. we're seeing double digit growth in units and many of our categories in brazil. we've got pretty strong growth across the emerging markets. >> john, thank you so much for joining us today. we really appreciate it. >> thank you, becky. >>> coming up, we're playing tracks from our favorite music we got into earlier this week. how did that start? our guest host had been at an eagles' concert. >> you needed ten and you used captain and tanille. i saw you googli
we're pushing corporate tax reform. all of those competitors have a ten-point lower tax rate than we have. but for us in our business, becky, if we can get there with a better product and execute while in market, we're going to win market share. we're also driving the category growth. so in a market where consumer is using one diaper a day, if we can get to two diapers a day, that doubles the size of the business for us. >> you're talking about china? >> china or a place like...
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Jan 28, 2013
01/13
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this does include taxes, and it is a hotel. but it doesn't include your mortgage. you're paying $95 million. and then what do you pay -- >> during the commercial break i guessed 17 grand a month. >> i would like to raise that -- >> 17 grand a month? >> to 55 grand a month. >> very close. 60,000 a month in monthly maintenance fees. now that does include twice -- it includes maid service and a spa and some other things. so you're paying $95 million and then you're paying $60,000 a month in maintenance. but we bring you through all kind of apartments tonight. $160 million worth of real estate in new york. >> are these places back? i mean for awhile things crashed and nobody could afford these places. are they really back? because we still talk about how on wall street those pay packages are coming back. >> that's what everyone was saying a year ago, two years ago. two things happened. one is foreign money. i mean one of the great things about this show tonight is we bring you through with a russian buyer as he's in central park west. the russians, the chinese, the lat
this does include taxes, and it is a hotel. but it doesn't include your mortgage. you're paying $95 million. and then what do you pay -- >> during the commercial break i guessed 17 grand a month. >> i would like to raise that -- >> 17 grand a month? >> to 55 grand a month. >> very close. 60,000 a month in monthly maintenance fees. now that does include twice -- it includes maid service and a spa and some other things. so you're paying $95 million and then you're...
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Jun 7, 2013
06/13
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tax cuts. we had huge tax cuts 10 years ago. >> but if we were growing better -- in 2007 we had 19% with the bush tax cuts. how do you explain that? >> we're not overtaxed in a historical context. they are not high. this is what you were arguing. that very high income houses shouldering a higher share burden in it. that's in the data. that's true. but that reflects the distribution of income and of t income and wealth. >> in a word, though. doesn't the private sector treat capital better than the public sector? >> absolutely. >> if you need to know anything other than that. >> absolutely. that's why we keep doing studies to try and figure that out. you know how government entities operate, don't you? >> it doesn't mean taxes are zero for everything. >> can i just -- you're absolutely right about that. you are absolutely right that it's better in the private sector than the government and there are times when the private sector is falling apart. four years ago, people don't remember how bad it w
tax cuts. we had huge tax cuts 10 years ago. >> but if we were growing better -- in 2007 we had 19% with the bush tax cuts. how do you explain that? >> we're not overtaxed in a historical context. they are not high. this is what you were arguing. that very high income houses shouldering a higher share burden in it. that's in the data. that's true. but that reflects the distribution of income and of t income and wealth. >> in a word, though. doesn't the private sector treat...
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Jan 2, 2013
01/13
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taxes. >> is that where you are? you were looking specifically -- >> no, no. >> why did that stick in your craw? >> i was going to tell you the number over $1.7 million. >> still getting book results? >> and that number is actually about $443,000 on average. they said people over 1.7. i'm assuming that's including the range. it questions what that ultimately -- >> what about all those people along with joe in the five million-plus brach. ♪ >> i didn't get that breakdown. we'll bring it to you obviously as breaking news when we come back. >> i am thinking about what i would have to do. i have nothing to sell. not going to be my body. >> hmm. >> not going to happen, john. i don't know. i don't know how you get to that level. thank you for putting me there. >> you can donate an organ. >> i saw something funny about the philadelphia eagles. it was horrible, though. i can't remember how it went. what do you call the philadelphia eagles? 47 millionaires watching the super bowl. >> nice. with a n
taxes. >> is that where you are? you were looking specifically -- >> no, no. >> why did that stick in your craw? >> i was going to tell you the number over $1.7 million. >> still getting book results? >> and that number is actually about $443,000 on average. they said people over 1.7. i'm assuming that's including the range. it questions what that ultimately -- >> what about all those people along with joe in the five million-plus brach. ♪ >> i...
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Apr 23, 2013
04/13
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we have uncertainty around tax. china's government is just now firmly in place and starting to take action. so i think that didn't allow things to progress on that side as well in the first quarter. >> in terms of china, we spoke yesterday with doug from caterpillar. he said in china things look a little better than they had to this point. what's your business in china look like? >> our business depends on the sector. things like nutrition and health food and agriculture, we're making great progress. automotive. in china, builds were up 12% year over year. in other areas that are infrastructure related, they have been lagging 6% to 9%. things about transformers or motors or generators. we see a lot of indication that's starting to loosen up and improve. >> i'm a nascar fan. i'm a jeff gordon fan. he's my favorite driver. i'm starting to see your name a little bit less on the 24 car. which makes me think automotive paint not where you need to be. i'm surprised by that given the automotive industry has done so well. w
we have uncertainty around tax. china's government is just now firmly in place and starting to take action. so i think that didn't allow things to progress on that side as well in the first quarter. >> in terms of china, we spoke yesterday with doug from caterpillar. he said in china things look a little better than they had to this point. what's your business in china look like? >> our business depends on the sector. things like nutrition and health food and agriculture, we're...
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Mar 1, 2013
03/13
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i think we should call taxes taxes. i think we should call them not revenues but taxes. i think we shouldn't call cuts things that still lead to higher budget than before. i think we need a grammatical -- >> yeah, you're right. because they're not cuts. you're right. it's slowing growth in spending. let me ask rebecca, i mean, do you, have you done anything with your -- you -- on how the economy fares if given sequestration? >> well, i mean, i think the market right now is assuming that at some point later this year we're going to get some revamp of it. either it will be reduced or pushed back or reshaped somehow so it will hurt in a different way, maybe less. i do worry a little bit about that because i don't know that that's a given. i'm certainly not being complacent about sequestration. at the same time it does look like there's enough momentum behind housing that the increase to gdp this year from housing, maybe half a percentage point, can offset the hit from sequestration. maybe not exactly, so, at the margin, where does that leave us? subtrend growth and a fed th
i think we should call taxes taxes. i think we should call them not revenues but taxes. i think we shouldn't call cuts things that still lead to higher budget than before. i think we need a grammatical -- >> yeah, you're right. because they're not cuts. you're right. it's slowing growth in spending. let me ask rebecca, i mean, do you, have you done anything with your -- you -- on how the economy fares if given sequestration? >> well, i mean, i think the market right now is assuming...
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Mar 11, 2013
03/13
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at lower tax rates? one of the reasons they're invest anything ireland and abroad is because there's so much cash tied up there. >> yes, indeed. currently the rules are bringing tax profits back to the united states are substantial sums of money all around the globe. ireland has benefited from direct investment from the united states in the same way as switzerland, the netherlands or singapore has. of course it's what the details of the tax treatment might be around that. because u.s. companies need to remain competitive internationally and they need to have international operations all around the globe. >> you know, one of ireland's big draws also is its low corporate tax rate. you have a 12.5% corporate tax rate. that's very different than what we have here in the united states. there is a lot of talk about trying to overhaul the united states tax rate. is that something you're planning for? do you think the united states could lower its corporate rate with a tax overhaul? >> well, i think there would
at lower tax rates? one of the reasons they're invest anything ireland and abroad is because there's so much cash tied up there. >> yes, indeed. currently the rules are bringing tax profits back to the united states are substantial sums of money all around the globe. ireland has benefited from direct investment from the united states in the same way as switzerland, the netherlands or singapore has. of course it's what the details of the tax treatment might be around that. because u.s....
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May 20, 2013
05/13
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>> they're still on the table what happens to tax exemption. we have had potential tax reform. tax exemption was sliced and diced pretty severely. >> do you think anything would go through at this point? it seems like there's chaos in washington. >> i have been on this show and others on cnbc. at this point i feel like it's really up to the mayors and the governors to say, are you crazy? you're going to cut our legs out just when we starting to get back on track. at this point i feel like it's not going to happen. it's going to take a lot of vigilance on their part and the industry itself fighting in. alex aandr alexandra, thank you for coming in today. >>> richard fisher. all the questions that are on everyone's mind. i'm sure you can come up with them. and we have. but first, rock legend rod stewart has gone number one in the uk for the first time in 30 years. the eighth british number one album. he said he was addicted to steroids causing a real shrinkage problem. preparing for his upcoming term called live the life. [ male announcer ] let's say you pay your guy around 2% to
>> they're still on the table what happens to tax exemption. we have had potential tax reform. tax exemption was sliced and diced pretty severely. >> do you think anything would go through at this point? it seems like there's chaos in washington. >> i have been on this show and others on cnbc. at this point i feel like it's really up to the mayors and the governors to say, are you crazy? you're going to cut our legs out just when we starting to get back on track. at this point...
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May 1, 2013
05/13
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is it all payroll tax? sooner or later we had to let that thing lapse if we're going to have social security, right? >> you're absolutely right. this is part of the process. i think we're going down the fiscal austerity path too quickly. we still have to go down it, but going down it very quickly. i think the payroll tax hike is doing the most damage. but i do think that the higher taxes on upper income households will have an impact. it'll be small and not nearly to the size of the payroll tax hike. i think most of what we're seeing now is the payroll tax hikes effects. you can see it in the retail sales numbers and now in employment. >> before we let you go, fhfa, your name was on the list, another guy got the job, what happened? >> well, i've got a great job. i get to talk to you twice a month. >> i wouldn't put you on the spot. i would just -- >> let me say this, congressman watt, he's a very experienced legislator, he's a nice guy and i wish him the best. he's going down a tough path. >> i don't know.
is it all payroll tax? sooner or later we had to let that thing lapse if we're going to have social security, right? >> you're absolutely right. this is part of the process. i think we're going down the fiscal austerity path too quickly. we still have to go down it, but going down it very quickly. i think the payroll tax hike is doing the most damage. but i do think that the higher taxes on upper income households will have an impact. it'll be small and not nearly to the size of the...
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Sep 30, 2013
09/13
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tax records, listing information. we don't have a light that says this person's home or not inside the app. >> if you search on google for an address, you can eventually find the information. they allow you to take the picture and find the information. if you saw a house you liked, take a picture, learn more about it. >> you might meet my dog if you're standing in front of my house and taking a picture. can you tell she's in there? 120-pound german shepherd. >> we make the money when people buy homes, we let people connect with an agent. when they buy a home, we share in that commission. >> it's part of the first mobile first real estate application. there were a lot of things about it that was web centric, this is mobile centric, which is where the market is most. >> thank you very much. congratulations, i'm going to try it now. >>> the nation facing a government shutdown and big-time debt issues. th that's not stopping dan gilbert. we're going to talk to him about his plans, the debt ceiling and a lot more in a mome
tax records, listing information. we don't have a light that says this person's home or not inside the app. >> if you search on google for an address, you can eventually find the information. they allow you to take the picture and find the information. if you saw a house you liked, take a picture, learn more about it. >> you might meet my dog if you're standing in front of my house and taking a picture. can you tell she's in there? 120-pound german shepherd. >> we make the...
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Apr 29, 2013
04/13
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cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. the math of retirement is different today.ek. money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully befo
cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications...
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Dec 24, 2013
12/13
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pro health care reform, democrat who raised taxes who raised taxes. and all of those things are being vilified today. you know, president obama, his health care reform plan is actually more conservative than president clinton's proposed health care reform plan back in 1993. >> but they both failed and both lost the congress. >> well, it hasn't failed because if you look at the statistics. >> it's not a failure? america thinks it's a failure. >> the most recent poll from cnn shows that 50% of the american people either support obamacare or want something more liberal. only 43% want something more conservative. >> what about the actual number of people getting insured? >> well, if you look at the statistics in massachusetts when they tried romneycare. >> i'm talking about obamacare. >> i'm using this as a barometer. you have to have basis of comparison. in massachusetts, the vast majority of people who signed up in the very last month. and we've seen exponential growth in terms of sign-ups in the past few weeks. >> well, there's nowhere to go. anything
pro health care reform, democrat who raised taxes who raised taxes. and all of those things are being vilified today. you know, president obama, his health care reform plan is actually more conservative than president clinton's proposed health care reform plan back in 1993. >> but they both failed and both lost the congress. >> well, it hasn't failed because if you look at the statistics. >> it's not a failure? america thinks it's a failure. >> the most recent poll from...
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Nov 6, 2013
11/13
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it's not just about taxes. taxes are just one component. we still have america and have to protect our country. somebody had to give us enough leadership to protect our country. >> we have to go to a break. you see who's leading? cftc. where have you been? yesterday they announced that. >> we haven't talked about it. >> i thought we just did. >> did we mention -- did we make a coach or new james bond? where's he going? >> all right. when we come back, the ceo of the health system and his take. >>> we'll join our guest host richard lefrak when we come back on "squawk box" wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. because what you don't know, can today churt you.urance.ng the internet of everything. what if you didn't know that posting your travel p
it's not just about taxes. taxes are just one component. we still have america and have to protect our country. somebody had to give us enough leadership to protect our country. >> we have to go to a break. you see who's leading? cftc. where have you been? yesterday they announced that. >> we haven't talked about it. >> i thought we just did. >> did we mention -- did we make a coach or new james bond? where's he going? >> all right. when we come back, the ceo of...
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Dec 30, 2013
12/13
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but, of course, florida has no tax. now income tax. that makes that different. there's all kinds of things that go into the mix. in terms of price per square foot, they're both 1,000 square feet. we're not talking about huge differences. what could that be? a rec room? >> all right. so it's settled, dolly, island time wins round one. let us know if you agree. tweet using #milliondollarhomes. dolly will be back later on "squawk on the street" for the next round. and later, she'll crown the top home. thanks for being with us on that this morning. >> thank you. >>> and coming up, predictions for 2014. what to expect in the markets and health care sector when we return. [ male announcer ] this december, experience the gift of true artistry and some of the best offers of the year at the lexus december to remember sales event. this is the pursuit of perfection. the energy in one gallon of gas is also enough to keep your smartphone running for how long? 30 days? 300 days? 3,000 days? the answer is... 3,000 days. because of gasoline's high energy density, your car doesn
but, of course, florida has no tax. now income tax. that makes that different. there's all kinds of things that go into the mix. in terms of price per square foot, they're both 1,000 square feet. we're not talking about huge differences. what could that be? a rec room? >> all right. so it's settled, dolly, island time wins round one. let us know if you agree. tweet using #milliondollarhomes. dolly will be back later on "squawk on the street" for the next round. and later, she'll...
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Mar 13, 2013
03/13
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november, december and then come january payroll taxes, et cetera. we believe the pullback will come. for us it's more of an opportunity longer term. things are in place when you look at balance sheets and you look at overall companies, you look at growth rates and companies are going to grow now. topline growth companies who have restructured looking globally. whether today or the next couple months, the market is at a high. valuations at 14 times earnings. you have to dig down. it's not buying the market today. it's buying specific sectors and stocks within it. >> waiting for the pullback is -- when is it going to happen? when it does, how significant is it going to be? >> our view is -- >> sound like you don't think it will be big. >> even if it is, if you look at the charts and you look over the last five or ten years, people who have made money if they stayed invested. today you go back ten years and you have 10% annual return. you can do that. the question is if you listen to too many talking heads and they say now is a time to pull back and wa
november, december and then come january payroll taxes, et cetera. we believe the pullback will come. for us it's more of an opportunity longer term. things are in place when you look at balance sheets and you look at overall companies, you look at growth rates and companies are going to grow now. topline growth companies who have restructured looking globally. whether today or the next couple months, the market is at a high. valuations at 14 times earnings. you have to dig down. it's not...
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Oct 4, 2013
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everyone agrees we need tax reform. you have max baucus and the republican congressman worked very hard to do meaningful tax reform. it's a great effort. and there are people out there who want to get this done. >> do we get the it doit done t weekend? >> you can certainly get an outline of an agreement this weekend. do you get done this weekend, no. but the interesting thing is the speaker has said he's going to take -- there isn't going to be debt refault, period. so it won't happen. the continuing resolution therefore becomes the issue and the sequester becomes the issue. >> all right, gentlemen. you're good together. we'll have you on again tonight. we can solve all this, i think. >>> still to come this morning, could america be facing another down grade thanks to washington's debt ceiling dispute? we'll talk about that when squawk comes right back. at a ford dealer with a little q and a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford deale
everyone agrees we need tax reform. you have max baucus and the republican congressman worked very hard to do meaningful tax reform. it's a great effort. and there are people out there who want to get this done. >> do we get the it doit done t weekend? >> you can certainly get an outline of an agreement this weekend. do you get done this weekend, no. but the interesting thing is the speaker has said he's going to take -- there isn't going to be debt refault, period. so it won't...
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Feb 25, 2013
02/13
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tax receipts are higher. but it's even with the sequestration, the budget is still going to be larger than it was -- >> so charles you don't think that there's any situation, even if we get into friday, we don't have any agreement, and we push forward with this, you don't think it weighs on stocks when they start to really contemplate this? you don't think the market's been thinking at some point that washington will come up with a final 11th hour agreement? >> it may weigh on them but it won't weigh on them the way that the washington echo chamber will suggest, you know, the meat supply will be tampered, delays are going to be significant. incidentally, paul ryan's airport by paul ryan's home is going to be closed. just by coincidence. i don't think it's going to weigh nearly the way it might seem if you hear the sound bites. >> i saw the president again saying we're not going to let this happen on the backs of the middle class because the republicans are loathe to raise taxes, they will not raise taxes on t
tax receipts are higher. but it's even with the sequestration, the budget is still going to be larger than it was -- >> so charles you don't think that there's any situation, even if we get into friday, we don't have any agreement, and we push forward with this, you don't think it weighs on stocks when they start to really contemplate this? you don't think the market's been thinking at some point that washington will come up with a final 11th hour agreement? >> it may weigh on them...
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May 22, 2013
05/13
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they could pay even more tax and hire even more people when they have a competitive tax code. they do about 60% of their business overseas. that means a lot of jobs in the u.s. are supporting their global sales. we like that, we need to create more jobs here in america. we've got to help make them competitive. >> and people that say, well, they're not paying taxes abroad. it drove home the point. do we want a lot of apple's taxes -- or a lot of the profits when they're left over there. you're going to be paying taxes to support the entitlements that other countries have overpromised to their people in europe and other places. it would just be so much more efficient if we brought it back here. and that's why it's going over there. >> exactly. bring them back. the other thing i liked about what apple said, honestly. they said let's not do a short-term tax holiday, let's reform the tax code permanently. >> you pointed out there's -- the apple cfo every year, it's 2 feet high, the tax return that he sent and he's got how many people do they employ just in their tax department? and
they could pay even more tax and hire even more people when they have a competitive tax code. they do about 60% of their business overseas. that means a lot of jobs in the u.s. are supporting their global sales. we like that, we need to create more jobs here in america. we've got to help make them competitive. >> and people that say, well, they're not paying taxes abroad. it drove home the point. do we want a lot of apple's taxes -- or a lot of the profits when they're left over there....
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Oct 11, 2013
10/13
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they can tax things, not tax things, they can go wild, do whatever you want. >> hold on. i have a question for you. this goes to a free market -- this is one of those instances where i say the market isn't working. >> well, here's the problem with this. >> they create incentives. >> there's a lot of money that's been put into advertising in mexico to fight this tax and the people in favor of this tax can't get time on the spaces or billboards because the television stationes and billboard advertisers don't want to alien ate companies that give them a lot of money. >> taxes isn't great, but i would prefer this to making all the producers have a certain size bottle and change all the manufacturing 23589s the way bloomberg tried. if you want to make it more expensive tore people to consume sugary drinks, that moves down the list on how -- >> okay. great. >> i agree with that. >>> let's talk about the second story. the ft is reporting that google funneled $12 billion of royalty payments to bermuda last year. that is a quarter mon more than it did in 2011. the tech giant has b
they can tax things, not tax things, they can go wild, do whatever you want. >> hold on. i have a question for you. this goes to a free market -- this is one of those instances where i say the market isn't working. >> well, here's the problem with this. >> they create incentives. >> there's a lot of money that's been put into advertising in mexico to fight this tax and the people in favor of this tax can't get time on the spaces or billboards because the television...
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Dec 20, 2013
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supposedly it was tax evasion. many people believe it was simple live because khodorkovsky funded opposition against putin. >> so what happens to him now? >> that's a good question. justice in russia is capricious. the message we're getting from putin is putin is embarrassed that so many high level delegations are not coming to the sochi olympics. i think he finds it insulting. he's trying to look magnanimous ahead of this. >> so is he going to be running around the olympics? no. >> khodorkovsky? >> yeah. >> i don't know. do you know when we heard about? yesterday. putin does a four-hour news conference yesterday. and then at the end, as he's walking out, he mentioned, oh, by the way, khodorkovsky is getting out of jail. they went on to his jet in the siberian air strip, arrested him and -- >> and putin's $100 billion net worth is -- how much is that -- >> they dismrajtsed the -- >> he probably moved over. >> unknown. they dismantled the company, right? >> that would be a testimony to why you want banking secrecy l
supposedly it was tax evasion. many people believe it was simple live because khodorkovsky funded opposition against putin. >> so what happens to him now? >> that's a good question. justice in russia is capricious. the message we're getting from putin is putin is embarrassed that so many high level delegations are not coming to the sochi olympics. i think he finds it insulting. he's trying to look magnanimous ahead of this. >> so is he going to be running around the olympics?...
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Feb 12, 2013
02/13
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we've had this conversation their effective tax -- we get a real deal the effective tax rate on many of these companies is ultimately going to go up, not down. >> this is the idea that you lower their marginal tax rate even if you broaden the base of their effective tax rate is higher they'll do more business. and again, you know, the literature -- >> you're not buying it? >> the literature is quite clear -- >> any of the -- >> i do i'm saying when you tweak the tax code a little bit you don't get much of a bang on the growth side. the congressional research service just had a very highly regarded piece on exactly this point. you just don't see the kind of relationship -- >> what about every regulation, and you know that there has been an explosion, every regulation has to be viewed, it has to -- someone that looks at it and says how will this affect growth? and it has to pass muster and it can't -- >> they do some of this, with, you know, if it's going to have a bigger impact -- >> regulation -- >> 100 million -- >> again i think a tiny, tiny little margin. i don't know why you took
we've had this conversation their effective tax -- we get a real deal the effective tax rate on many of these companies is ultimately going to go up, not down. >> this is the idea that you lower their marginal tax rate even if you broaden the base of their effective tax rate is higher they'll do more business. and again, you know, the literature -- >> you're not buying it? >> the literature is quite clear -- >> any of the -- >> i do i'm saying when you tweak the...
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Oct 14, 2013
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, the medical device taxes, everybody's paying taxes on their premiums. it's all being passed through to the customer. if we fix, again, the underlying entitlement, $810 billion a year, you could pay for the affordable care act and reduce the debt by almost 35% if we actually got those two parameters -- without raising taxes at all. >> let me ask you this, things are the way they are for a reason always. so you're suggesting that up to 30% of the total health care spend is -- an efficiency and lack of focus in terms of how we manage programs. who are the constituencies that keep that in place? >> it's the interest in the health care system today so you need to change the revenue model. you need to say this is the budget. this is what we're going to spend on health care. and if we go after the sickest in the united states and make them -- make a program that's better for them and we change the revenue model so you're rewarded by putting people into the lowest cost venue of the lowest cost providers that are effective for them, we start to change the cost s
, the medical device taxes, everybody's paying taxes on their premiums. it's all being passed through to the customer. if we fix, again, the underlying entitlement, $810 billion a year, you could pay for the affordable care act and reduce the debt by almost 35% if we actually got those two parameters -- without raising taxes at all. >> let me ask you this, things are the way they are for a reason always. so you're suggesting that up to 30% of the total health care spend is -- an...
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Oct 2, 2013
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we only net $1.3 trillion income taxes. we have $1.3 trillion worth of back door spending in tax cuts. >> are thought leader across the aisle that you have convene had the are talking to each other across the aisle? >> yeah. i think there are plenty of people across the aisle especially in the senate that are constantly talking to each other, trying to figure out how to get past this ultra partisan ship to get something that makes good economic sense done. there's even discussion in the house. >> how come we don't hear from them? >> we do hear from them, but the things we're talking about doing are tough. the way the districts are divided up, it just doesn't make political sense from these guys to come out. the problems are real. the solutions are painful. there's not an easy way out. it takes political courage to stand up and say if you're a democrat we've got to reform entitlements. if if you're republican, we've got to reform tax code. we're willing to do it on a basis that's not revenue neutral. >> you mentioned distric
we only net $1.3 trillion income taxes. we have $1.3 trillion worth of back door spending in tax cuts. >> are thought leader across the aisle that you have convene had the are talking to each other across the aisle? >> yeah. i think there are plenty of people across the aisle especially in the senate that are constantly talking to each other, trying to figure out how to get past this ultra partisan ship to get something that makes good economic sense done. there's even discussion in...
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Aug 5, 2013
08/13
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>> i will try on tax reform. can you say it was a joke. >> it is a joke. >> the prospects for it actually happening? >> not even that. just trying, saying it aloud. >> it's pretty much a joke. he is right about that. the idea that will you get a grand bargain that includes tax reform between now and the end of the year will never happen. >> how about the piece? sample the piece will not happen either, there will not be an agreement t. rate the corporate rate, everybody seems to think is a good idea the republicans want to use it for other purposes, pay down the debt. will is no agreement on the revenue. >> it's a fascinating argue in the sense that individual tax rates have big constituencies, if you eliminate the tax incentives, will is $1.2 trillion in the total of all deductions. you look at mortgage interest deduction. try and do the same thing on the corporate level. >> difficult to do. >> talk about strong lock -- >> people make their livings protecting that, working on the type of stuff. exactly. >> thank
>> i will try on tax reform. can you say it was a joke. >> it is a joke. >> the prospects for it actually happening? >> not even that. just trying, saying it aloud. >> it's pretty much a joke. he is right about that. the idea that will you get a grand bargain that includes tax reform between now and the end of the year will never happen. >> how about the piece? sample the piece will not happen either, there will not be an agreement t. rate the corporate rate,...
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Jan 25, 2013
01/13
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that was taken, as it should have been, to mean higher taxes. didn't mean just higher taxes. it meant higher taxes and less spending and i was specific about that. my ear is attuned for hearing more cuts in spending. i am not hearing it. i would be disappointed if this is all there was. as far as a deal was concerned, i think that that was a stopgap, and i think it was presented like that -- as that. as part of a series of more negotiations that were to follow and more changes, both possibly on the taxing side but certainly on the expenditure side. i'm dying to hear the -- to hear the expenditure and less spending side. i agree with that. but i'm not -- i'm not -- i wouldn't use the term disappointed until this whole process is over. i don't think we're in the -- i don't think we're in the seventh inning of this process. >> yeah. >> because at this point, we're -- >> at this point we're at, you know, simpson-bowles and rivlin domenici and the gang of all of these the idea was to get rid of a lot of the deductions and loopholes, so that you could broaden the base with a lower
that was taken, as it should have been, to mean higher taxes. didn't mean just higher taxes. it meant higher taxes and less spending and i was specific about that. my ear is attuned for hearing more cuts in spending. i am not hearing it. i would be disappointed if this is all there was. as far as a deal was concerned, i think that that was a stopgap, and i think it was presented like that -- as that. as part of a series of more negotiations that were to follow and more changes, both possibly on...
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Jun 27, 2013
06/13
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you have tax data. you can choose not to -- either tore discountt the payrolls and the earnings number, which we have tax data to back up. or you can choose to discount the compilation of gdp, which if you and i were in a year together, we would not be able to physical out the equation. >> has it been any different throughout your experience being in the marketplace? >> i tend to trust the data that's the least refined. i think of all the data we have defined. >> what data would that be? >> the tax data, the payroll data. the gdp data. >> what i say is just because the lines are getting smaller for unemployment benefits doesn't necessarily mean a boatload of more people will be getting jobs. >> it means people are less afraid of being laid off, which is usually good for consumption. >> i guess, that to me seems a lot more interpretational than the gdp data as bad as it is, after all, look at who compiles it. >> let's bring in bob davis, he's our guest host today. bob. as an investor of somebody looking
you have tax data. you can choose not to -- either tore discountt the payrolls and the earnings number, which we have tax data to back up. or you can choose to discount the compilation of gdp, which if you and i were in a year together, we would not be able to physical out the equation. >> has it been any different throughout your experience being in the marketplace? >> i tend to trust the data that's the least refined. i think of all the data we have defined. >> what data...
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Feb 8, 2013
02/13
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome back to "squawk box." we're going to get trade data in just a minute. first the weather channel's mike seidel joins us with an update of what's going on. good to see you finally, mike. >> hey, good morning, andrew. out here at revere beach, just north of logan, the north shore of boston, where the snow is going to be here in here in a matter of few minutes. we're looking at a blizzard warning for parts of seven states. the entire state of connecticut, and coastal areas of massachusetts, a coastal flood warning. high tide in about an hour comes up to about here. we're concerned about the high tide tonight and 10:00 a.m. tomorrow morning. that's going to take the atlantic up
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome back to "squawk box." we're going to get trade data in just a minute. first the weather channel's mike seidel joins us with an update...
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May 17, 2013
05/13
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tax reform, tax reform, and tax reform. there's no excuse for us not cleaning up this mess that's in this system. >> all right. congressman rang he el, appreciate your time today. thanks. >> thank you. >> coming up, our disruptor 50 series is continuing. up next, the top "game change"er in the telecom industry. you can't miss this one. former wells fair going chairman and ceo dick kovecevich. plus, a special extended interview with dallas fed president richard fisher. it's going to be a huge show. >> monday? >> starting at 6:00 a.m.. nespresso. where there is an espresso to match my every mood. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is made at home. and where i can have exactly what i desire. ♪ nespresso. what else? how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit po
tax reform, tax reform, and tax reform. there's no excuse for us not cleaning up this mess that's in this system. >> all right. congressman rang he el, appreciate your time today. thanks. >> thank you. >> coming up, our disruptor 50 series is continuing. up next, the top "game change"er in the telecom industry. you can't miss this one. former wells fair going chairman and ceo dick kovecevich. plus, a special extended interview with dallas fed president richard...
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Oct 3, 2013
10/13
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tax reform both -- both the individual and corporate tax reform. but we need entitlements reform also. health reform, health care, social security, immigration reform. because what this economy needs to restore competitiveness and get growth to a more acceptable level so we can deal with some of these problems more easily like the deficit are going to be some of these reforms. i think we need to get this problem behind us, build some trust and start to work on things that will make a difference. baurz t because the kinds of things we're talking about now are things that need to get done. we need a budget, we need the debt ceiling to be raised. let's get those done and worry about the -- and get done some fundamental things. >> mr. secretary -- >> i want to talk to you -- go ahead, becky. >> one quick question for you, mr. secretary. yesterday, the president was on our air speaking with john harwood. he said informevestors should n so complacent this time around with the standoff in washington. this time is different. would you agree with that? mayb
tax reform both -- both the individual and corporate tax reform. but we need entitlements reform also. health reform, health care, social security, immigration reform. because what this economy needs to restore competitiveness and get growth to a more acceptable level so we can deal with some of these problems more easily like the deficit are going to be some of these reforms. i think we need to get this problem behind us, build some trust and start to work on things that will make a...
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Oct 7, 2013
10/13
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no tax refunds go out to the people who need it. all those people on furlough, well, they're not getting checks and eventually that will hit their spending. for some people, they might not be able to pay bills. you have loans not available. finally for economists like me and the fed, you don't have any data to analyze what's going on in the world. >> lou, just listening to that, i would -- 2014 is going to be tough to switch around anyway because of the redistricting. that's going to be hard. the president's going to see that this is going to hurt the economy most likely. eventually that's going to be his legacy. it seems like it's in his best interests to -- we already are sure, the country -- we're absolutely sure this is the republican's fault. i think you could look magnanimous to say, all right, you little spoiled children, i'm going to rise above, you know, what you're doing and, you know, instead of just taking the ball and going home. i'm going to actually try to do something. wouldn't you do that if it was in your best inte
no tax refunds go out to the people who need it. all those people on furlough, well, they're not getting checks and eventually that will hit their spending. for some people, they might not be able to pay bills. you have loans not available. finally for economists like me and the fed, you don't have any data to analyze what's going on in the world. >> lou, just listening to that, i would -- 2014 is going to be tough to switch around anyway because of the redistricting. that's going to be...
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Mar 18, 2013
03/13
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you can tax depositors or you could tax the entire country. which would have spread the pain among tax payers. they started to spike on the fear that this could lead to a contagion. we haven't seen bank lines in italy or spain, which was the fear. it certainly raised a lot of concerns. >> let's also bring in steve leaseman and rick santelli for more reaction. why don't you start off with your views with what you're hearing from people there when you're looking attic movements. what really jumps out to you? >> i'll tell you what, and i am totally serious about this. when i walked in, this is a little earlier than our regular time. people are walking around, taking care of issues from friday. people have come up and said i understand this is a little island with a gdp that's in fan tess mal. i'll tell you what, i'm kind of shocked that it made that jump. i understand that at a time where computerization allows every government on the planet to track and have say complete financial audit trail of everything anybody has, whether it's in this count
you can tax depositors or you could tax the entire country. which would have spread the pain among tax payers. they started to spike on the fear that this could lead to a contagion. we haven't seen bank lines in italy or spain, which was the fear. it certainly raised a lot of concerns. >> let's also bring in steve leaseman and rick santelli for more reaction. why don't you start off with your views with what you're hearing from people there when you're looking attic movements. what really...
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Oct 22, 2013
10/13
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if you take that position, no new taxes, you're basically saying, okay, if we get rid of the tax subsidy for ethanol, we don't agree with that because that's a tax increase. if we had a spending program for ethanol, oh, we could cut that. they do the same thing. it's not a sound position. >> same concept. >> we're supposed to get rid of -- and weren't we talking about simplifying the tax code and getting rid of loopholes so that we could lower rates to broaden the base? well, we've raised rates and now you want to keep all the money from closing the loopholes. >> i think we would all agree that the real debate can't happen until 2016. what you want to see is at least talking about these issues sooner than that. obviously the next several weeks are going to be an interesting challenge, the sequester. >> do you think the president is uncomfortable with the wings that we just talked about -- i think he's closer to that progressive wing than -- >> the president has already put out $400 billion on medicare, already put out $230 billion from cpi as concepts. he's been very clear there's someon
if you take that position, no new taxes, you're basically saying, okay, if we get rid of the tax subsidy for ethanol, we don't agree with that because that's a tax increase. if we had a spending program for ethanol, oh, we could cut that. they do the same thing. it's not a sound position. >> same concept. >> we're supposed to get rid of -- and weren't we talking about simplifying the tax code and getting rid of loopholes so that we could lower rates to broaden the base? well, we've...
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tax purposes. by contrast all the income lew had was on a passive basis and fully transparent to the government. is that a distinction without a difference? does it matter? >> the only thing i can comment on that, whatever i can remember from the last campaign and the years that romney put his taxes out for public inspection, and then the president to come on -- comment on, that had to be after he left the management of bain capital opposed to running it at that particular time. >> this is something, as you said, you want to point out the pip pock cra hypocrisy, you figure jack lew will be easily confirmed? >> you know what, to answer your question, i will be better prepared to answer it 24 hours from now because the purpose of the hearing is to determine his qualifications to be secretary of the treasurer. >> it's rich in irony and pretty highly compensated from those nasty bankers. >> that is an issue coming up. how come he got almost a million dollars of bonus a few days before citi group got a
tax purposes. by contrast all the income lew had was on a passive basis and fully transparent to the government. is that a distinction without a difference? does it matter? >> the only thing i can comment on that, whatever i can remember from the last campaign and the years that romney put his taxes out for public inspection, and then the president to come on -- comment on, that had to be after he left the management of bain capital opposed to running it at that particular time. >>...
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where taxes were raised and nothing else came along. one side thinking only half the deal was brought. and i just wonder, is there a potential for a grand bargain beyond this? or is it too late with the players that are in power on both sides at this point? >> i don't think it's ever too late for reality to overcome ideology. that's a good line. i like that. let's talk about real estate. we haven't gotten into that. how does real estate fair up and how are apartments doing? people thought as housing started to pick up it would be at the -- >> expense. >> at the expense of apartments. is that the case? >> no. apartment business, you know, i'm chairman of the largest department in the country, if anything, all we see right now is continued strength, and we're running 96% occupancy. and you almost can't run any higher occupancy. and the demand continues to be there. we have not seen the predicted leaving of the multifamily sector to take advantage of all of these quote, unquote cheap houses. >> why do you think that is? >> because, number
where taxes were raised and nothing else came along. one side thinking only half the deal was brought. and i just wonder, is there a potential for a grand bargain beyond this? or is it too late with the players that are in power on both sides at this point? >> i don't think it's ever too late for reality to overcome ideology. that's a good line. i like that. let's talk about real estate. we haven't gotten into that. how does real estate fair up and how are apartments doing? people thought...
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tax? what is it right now and what would it be after this plan? >> the state sales tax right now is 5.5%. that would not change. because, again, what we're asking is let's give up those exemptions we've granted over the years. they were done five decades ago. >> hmm. what do the statistics, or the studies that you've run show would end up happening in terms of the revenue that's brought in? >> well, there's no doubt in my mind we would grow more rapidly. that's shown in every study i've seen in states that are doing the best economically. don't have an income tax or again they have a very low rate. we have the 35th highest personal income tax rate right now. i'd like to change that. i think small businesses understand that in particular. >> we have spoken with business leaders who have told us exactly that on this set. barry stern was here last week as one of our guest hosts and he says the best states to do business with are florida and texas, two of the states that don't have income tax.
tax? what is it right now and what would it be after this plan? >> the state sales tax right now is 5.5%. that would not change. because, again, what we're asking is let's give up those exemptions we've granted over the years. they were done five decades ago. >> hmm. what do the statistics, or the studies that you've run show would end up happening in terms of the revenue that's brought in? >> well, there's no doubt in my mind we would grow more rapidly. that's shown in every...
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>> well, tax reform that is tax reform. it's not a trojan horse -- >> it could be revenue neutral but means a lot of people right now -- a lot of companies -- >> but overall revenue neutral, that's exactly what the house ways and means committee. >> what the president has supported, but grover's saying no additional to the government. democrats in return for medicare and social security cuts. >> every time you walk into a negotiation with the administration, they want more taxes. when they did the supercommittee, they wanted $1.4 trillion in tax increases to fix the $1.2 trillion problem. reid is saying now he doesn't want to do tax reform unless at least it's $1 trillion in higher revenue. it's not just it is president's problem. harry reid wants $1 trillion as the ransom for fixing the -- >> see why i said a baby bargain is all we can do. >> a baby bargain. you're a pragmatic guy. that was your problem with the republicans who held out on this and were going to vote no on this. would you -- would you agree or concede the
>> well, tax reform that is tax reform. it's not a trojan horse -- >> it could be revenue neutral but means a lot of people right now -- a lot of companies -- >> but overall revenue neutral, that's exactly what the house ways and means committee. >> what the president has supported, but grover's saying no additional to the government. democrats in return for medicare and social security cuts. >> every time you walk into a negotiation with the administration, they...
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if you take these tax loopholes you're killing tax reform. that kills our chance for economic growth and job creation. more to the point, more to the point, even with the sequester taking effect, spending will have gone up 18% since the president took office. so spending is the problem. the deficit's a huge problem. we're going to tackle this. we don't think the sequester is the right way to do it but it's going to happen and we will map out a budget that shows you the right way to grow the economy and prevent a debt crisis in this country. >> that budget will include not only discretionary budget spending but also the full entitlement part of it? >> that's right. you have to reform entitlements to save these programs from bankruptcy, to save the country from a debt crisis. we're the adults in the room, we've been proposing this for years. the president is around the country campaigning. and not coming to the table with equal 3r0e7als to deal with this. unfortunately that's the stalemate we have today. >> was there a time when you could have
if you take these tax loopholes you're killing tax reform. that kills our chance for economic growth and job creation. more to the point, more to the point, even with the sequester taking effect, spending will have gone up 18% since the president took office. so spending is the problem. the deficit's a huge problem. we're going to tackle this. we don't think the sequester is the right way to do it but it's going to happen and we will map out a budget that shows you the right way to grow the...
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>> no more tax revenue. none. >> but he's going to insist -- >> none. >> we just heard jared say he's going to insist on that. another $60 billion a year. >> just there shouldn't be. >> there should be no more tax increases. we should be coming up with a new way to be able to -- creative ways to be able to keep costs down on medicare. maybe make part "b" more expensive for people. but no. joe, no more taxes. i mean geez, read my lips no more taxes and don't go back on it. because everyone's going to get them. and everyone has sat down with their accountants in the last 48 hours is dazzled. dazzled about what's going to happen. and i'm not just talking about the wealthy people. because we're starting to talk about health care. small businesses. what they're thinking about at the end of 2013. so, no, i mean it's medicare, medicare and then medicare. and it's all that matters. discretionary spending is down to -- it's the lowest in 50 years. >> he just said 1.2 trillion we need to close, and they're going to --
>> no more tax revenue. none. >> but he's going to insist -- >> none. >> we just heard jared say he's going to insist on that. another $60 billion a year. >> just there shouldn't be. >> there should be no more tax increases. we should be coming up with a new way to be able to -- creative ways to be able to keep costs down on medicare. maybe make part "b" more expensive for people. but no. joe, no more taxes. i mean geez, read my lips no more taxes...
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cut, and the upper income tax hikes. the $250,000 of drag, right? so we just haven't seen that effect yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on. >> she's very teed up on that. and reading some of the stuff that abe is getting accomplished, it is different. i mean they're going to do -- they're going to -- >> they're going to out-fed the fed. >> exactly. and you know, they haven't had -- do you remember the last time they've had 2% inflation? >> twice in the last two decades. briefly. one on the back of a tax increase. >> just really brief. >> they've flirted with 2% and that's come back -- >> you think they can orchestrate that? >> i'm dubious for now. but if you have a better u.s., a quiet
cut, and the upper income tax hikes. the $250,000 of drag, right? so we just haven't seen that effect yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on....
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rethink our individual tax system. rethink entitlements. all of these things. it would have been, i think, beneficial to the white house, more beneficial, i think, to have an independent voice getting up in front of congress, palming up the business community and speaking for those proposals rather than the former chief of staff. >> it wasn't going to be you. but there's a guy with us -- go my signature is not good enough. >> i wish it had been the guy we had. >> it could have been -- >> i wish it had been. >> we talked on tractly about roger, right? roger's been in the business community. >> i'm going to read something and i'm going to -- i'm going to argue with roger. not argue with him, but i'm going to make him defensive about all this if i can, because he is on our side. he's down. because i've read your editorial. and you remember that one specific editorial that you wrote, roger, about it was almost telling the administration, back off on the business and private sector bashing. it's important for the economy th
rethink our individual tax system. rethink entitlements. all of these things. it would have been, i think, beneficial to the white house, more beneficial, i think, to have an independent voice getting up in front of congress, palming up the business community and speaking for those proposals rather than the former chief of staff. >> it wasn't going to be you. but there's a guy with us -- go my signature is not good enough. >> i wish it had been the guy we had. >> it could have...
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slate when it comes to tax reform. senator max baucus and senator orrin hatch say any tax breaks should be restored only if they grow the economy and make the tax code fair. >> i don't know if lobbyists have enough money. >> fair is such a loaded term. we will be speaking to erskin bowles and former co-care of the national commission of fiscal responsibility and reform at the top of the next hour right here on "squawk box". >> energying is ernest money says iran is not a dominant player in the market and inkreegsd production elsewhere can more than make up for any shortfall. they expect a further because of the tightening of economic sanctions against that company. >> egyptians taking the streets and demanding the resignation of islamist president, joining us on the squawk news line, a talk about the unrest in egypt, ian bremer, we probably look at this as a whole and we can't. because it's not monolithic what goes on over there. in turkey, i fixed everybody was sort of pushing back against a less secular state. where
slate when it comes to tax reform. senator max baucus and senator orrin hatch say any tax breaks should be restored only if they grow the economy and make the tax code fair. >> i don't know if lobbyists have enough money. >> fair is such a loaded term. we will be speaking to erskin bowles and former co-care of the national commission of fiscal responsibility and reform at the top of the next hour right here on "squawk box". >> energying is ernest money says iran is...